Tower Semi forecasts upbeat quarterly revenue, signs $1.3 billion in AI chip deals

Tower Semiconductor on Wednesday forecast second-quarter revenue above estimates and said it landed $1.3 billion in deals for 2027 to supply chips that use light to move data at high speeds through artificial intelligence data centers.

Strong demand for its analog and mixed-signal processors ‌on the ⁠back ⁠of rising investment in data centers and AI helped boost the Israeli contract chipmaker’s quarterly forecast, sending its U.S.-listed shares over 17% before the bell.